Inter reportedly attempted a dramatic late swoops for Liverpool striker Fabio Borini and Chelsea's Mohamed Salah, but they missed out when they couldn't sell Fredy Guarin.
The money that Inter had expected to get from the deal would have been necessary to pull off Borini and Salah's signatures, which Sky Sports claims were ready to be secured.
The future of Sampdoria goalkeeper Sergio Romero remains unclear at present with reports that he rejected a surprise late bid from Manchester City to choose Manchester United but no official word as yet. It has also been suggested that Romero's wage demands prevented any move at all taking place.
After a busy day of transfer activity, AC Milan swooped once more to sign Atalanta winger Giacomo Bonaventura after a deal for Parma winger Jonathan Biabiany fell through.
Biabiany had looked set to move to Milan, but it was a part-exchange deal and the bargaining chip Cristian Zaccardo rejected the transfer.
Milan vice-president Adriano Galliani acted fast to snap up Atalanta star Bonaventura instead for around £5.5 million. Galliani reported that Bonaventura cried with emotion when he signed his contract.
Confirmations of the big deals of the day have been filtering through such as Fiorentina's signature of Micah Richards from Manchester City and Roma signing Newcastle United defender Mapou Yanga-Mbiwa both in season loans.
As expected, no deal for Arturo Vidal to Manchester United materialised.
Inter midfielder Ricky Alvarez has officially signed for Sunderland on loan after the two clubs agreed to remove the clause that gives the Black Cats the chance to make the deal permanent next summer.
Amongst the other deals that were done was Metalist Kharkiv forward Alejandro ‘Papu’ Gomez joining Atalanta and Sampdoria signing Montenegro star Luka Djordjevic from Zenit Saint Petersburg.
Torino signed former Juventus man Amauri, who had been linked to West Ham United and Napoli pair Blerim Dzemaili and Goran Pandev joined Galatasaray.
Who was the best signing from Italy this summer?